n Personal Finance Newsletter - Why buying now may be a bad idea : property
|Article Title||Why buying now may be a bad idea : property|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Personal Finance Newsletter|
|Publication Date||Jun 2016|
One of the consequences of living in employer-owned housing is that when you no longer receive this benefit, you need to find a place to stay. This is the situation that my family and I found ourselves in at the end of last year when the congregation we had been serving could no longer afford to support us. Because we were not in a position to purchase a property immediately (this had been part of our retirement planning, assuming that we remained in a full-time station until age 65), we had no other option but to rent. As someone who has always owned the roof over their head prior to entering ministry, this was something that was difficult to swallow. However a few facts and figures pertaining to my own situation are causing me to change my views, especially given the current property market conditions that Magnus Heystek has so eloquently described in his article.
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